Hitting record high after record high, tech companies have displaced traditional blue chip companies like Exxon Mobil and Walmart as the most valuable companies in the world.
Here are the latest market valuations for those same five companies:
Together, they are worth $2.9 trillion in market capitalization – and they combined in FY2016 for revenues of $555 billion with a $94 billion bottom line.
BRINGING HOME THE BACON?
Authored by William Anderson via The Mises Institute,
When the cable TV sports giant ESPN announced 100 layoffs recently, including letting go a number of high-profile broadcasters, a lot of people took notice, and well they should: things no longer are business as usual in sports broadcasting, and we are not even at the beginning of the end, and maybe not even the end of the beginning.
While every investor wishes they had a crystal ball, there’s one thing, says David Rosenberg chief economist at Gluskin Sheff, that has predicted imminent recessions without fail. Speaking at the Strategic Investment Conference in Orlando, Florida, Rosenberg pointed out that since 1950, there have been 13 cycles where the Federal Reserve tightened interest rates… and 10 of them ended in recession. This is also something which BofA's Michael Hartnett pointed out in early March, laying it out concisely on the following chart.
Authored by Jim Rickards via The Daily Reckoning blog,
The key to bubble analysis is to look at what’s causing the bubble. If you get the hidden dynamics right, your ability to collect huge profits or avoid losses is greatly improved.
Based on data going back to the 1929 crash, this current bubble looks like a particular kind that can produce large, sudden losses for investors.
Gallup released a poll Thursday showing that overall stock ownership among US adults remains 8 percentage points below its pre-crisis level. But even as the crisis appears to have scared many Americans away from owning stocks, there are two demographic subgroups where ownership has held firm: Adults aged 65 and older and those with an annual household income of $100,000 or more.